Formula 1
Formula 1
28 Mar
Event finished
R
Emilia Romagna GP
18 Apr
FP1 in
3 days
R
Portuguese GP
02 May
Race in
19 days
09 May
Next event in
23 days
23 May
Race in
40 days
R
Azerbaijan GP
06 Jun
Race in
54 days
13 Jun
Race in
62 days
27 Jun
Race in
75 days
04 Jul
Next event in
79 days
18 Jul
Race in
97 days
R
Hungarian GP
01 Aug
Race in
110 days
29 Aug
Race in
138 days
05 Sep
Race in
145 days
26 Sep
Race in
166 days
R
Singapore GP
03 Oct
Next event in
170 days
10 Oct
Race in
180 days
R
United States GP
24 Oct
Race in
195 days
31 Oct
Race in
202 days
R
Australian GP
21 Nov
Race in
222 days
R
Abu Dhabi GP
12 Dec
Race in
243 days

Lopez denies Lotus in financial strife

Genii is not going to urgently demand Lotus pay it back.

Lopez denies Lotus in financial strife

Aug.24 (GMM) Team owner Gerard Lopez on Saturday played down reports of financial strife at Lotus.

Reportedly in debt to the tune of EUR 120 million, behind in payments to lead driver Kimi Raikkonen and with the new Infinity Racing investment in doubt, Lopez insisted at Spa-Francorchamps that Lotus is in fact in good health.

Indeed, some believe the team's debt is actually just 28 million.

"It is 120 million," Lopez confirmed to Auto Motor und Sport, "but four-fifths of it we owe to ourselves, to Genii, because we do not sponsor the team but finance it through loans."

He said, therefore, that Genii is not going to urgently demand Lotus pay it back.

"First of all I want to ensure that the team continues to be well funded. Whether we get the money back now or later, we have to see.

"We continue to look for partners to join the team. It's not about getting money back quickly now."

Lopez insisted that is precisely why Lotus does not have a title sponsor at the moment.

"We could have signed a cheap contract," he said. "But we think from the performance point of view, we need a sponsor who pays really well.

"We don't want to sign something now for three, four, five years that we will regret later."

On the face of it, rumours aside, Lotus seems to be in good health.

Raikkonen, although upset his wages are being paid late, is still fighting for the title, while Lotus is pushing hard with development of the 2013 and 2014 cars.

"We are currently working on a (2013) car with a longer wheelbase," Lopez revealed. "I think we are really well positioned."

Losing Raikkonen, however, would be a major blow.

The Finn is at the centre of the 2014 'silly season', but Lopez would not be drawn on whether the touted moves to Red Bull or Ferrari are likely, or simply a negotiating tactic.

"I don't know," he insisted.

"I don't know whether he would actually go together with Sebastian Vettel or Fernando Alonso. No idea," Lopez added.

But if Lotus does lose its lead driver, Lopez insists Lotus will continue to thrive.

"When you have a very good car, you always have options in Formula One," he said.

"We are very close to Renault and so we know we will have a competitive car next year too. So there will always be drivers who want to be with us."

shares
comments
Raikkonen: "Lotus know what they have to do" to retain star driver

Previous article

Raikkonen: "Lotus know what they have to do" to retain star driver

Next article

Schumacher not entering race for Red Bull seat

Schumacher not entering race for Red Bull seat
Load comments

About this article

Series Formula 1
Drivers Kimi Raikkonen , Fernando Alonso , Sebastian Vettel , Gerard Lopez
Teams Ferrari
Author GMM
The 'new' F1 drivers who need to improve at Imola Prime

The 'new' F1 drivers who need to improve at Imola

After a pandemic-hit winter of seat-swapping, F1 kicked off its season with several new faces in town, other drivers adapting to new environments, and one making a much-anticipated comeback. Ben Anderson looks at who made the most of their opportunity and who needs to try harder…

The delay that quashed Aston Martin’s last F1 venture Prime

The delay that quashed Aston Martin’s last F1 venture

Aston Martin’s only previous foray into Formula 1 in the late 1950s was a short-lived and unsuccessful affair. But it could have been so different, says Nigel Roebuck.

Formula 1
Apr 10, 2021
Verstappen exclusive: Why lack of titles won't hurt Red Bull's ace Prime

Verstappen exclusive: Why lack of titles won't hurt Red Bull's ace

Max Verstappen’s star quality in Formula 1 is clear. Now equipped with a Red Bull car that is, right now, the world title favourite and the experience to support his talent, could 2021 be the Dutchman’s year to topple the dominant force of Lewis Hamilton and Mercedes?

Formula 1
Apr 9, 2021
Is Formula 1 as good as it has ever been now? Prime

Is Formula 1 as good as it has ever been now?

For many, many years Formula 1 has strived to do and to be better on all fronts. With close competition, a growing fanbase, a stable political landscape and rules in place to encourage sustainability, 2021 is on course to provide an unexpected peak

Formula 1
Apr 8, 2021
How Williams’ new structure adheres to a growing F1 trend Prime

How Williams’ new structure adheres to a growing F1 trend

Williams held out against the tide for many years but, as MARK GALLAGHER explains, the age of the owner-manager is long gone

Formula 1
Apr 6, 2021
When a journeyman driver's F1 career lasted just 800m Prime

When a journeyman driver's F1 career lasted just 800m

Nikita Mazepin’s Formula 1 debut at the Bahrain Grand Prix lasted mere corners before he wiped himself out in a shunt, but his financial backing affords him a full season. Back in 1993 though, Marco Apicella was an F1 driver for just 800m before a first corner fracas ended his career. Here’s the story of his very short time at motorsport’s pinnacle.

Formula 1
Apr 4, 2021
How Raikkonen's rapid rise stalled his teammate's F1 career climb Prime

How Raikkonen's rapid rise stalled his teammate's F1 career climb

Kimi Raikkonen's emergence as a Formula 1 star in his rookie campaign remains one of the legendary storylines from 2001, but his exploits had an unwanted impact on his Sauber teammate's own prospects. Twenty years on from his first F1 podium at the Brazilian GP, here's how Nick Heidfeld's career was chilled by the Iceman.

Formula 1
Apr 3, 2021
The nightmare timing that now hinders Mercedes Prime

The nightmare timing that now hinders Mercedes

Mercedes and Lewis Hamilton took victory at the Bahrain Grand Prix despite, for a change, not having the quickest car. But any hopes of developing its W12 to surpass Red Bull's RB16B in terms of outright speed could not have come at a worse time.

Formula 1
Apr 2, 2021